Universal Life Sample Clauses

Universal Life. The amount of reinsurance is the net amount at risk minus the retention of the Ceding Company. The net amount at risk is defined to be the death benefit less the cash value. If the net amount at risk is reduced, the amount of reinsurance shall be reduced and any unearned reinsurance premiums associated with the reduction returned to the Ceding Company. Life Cession Minimum - $5,000. Unless otherwise agreed, the cases ceded under this Agreement shall be for at least $5,000 of life reinsurance benefit. ADB Limits - $5,000 & $150,000. Unless otherwise agreed, any Accidental Death Benefits ceded under this Agreement shall be for at least $5,000 per cession, and they shall not exceed $150,000 per life. Cologne's participation in Accidental Death Benefits shall be limited to $250,000 for total in force and applied for business.
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Universal Life. I. Commissions will be earned on any net increase by original Agent only if the policy is increased through the efforts of original Agent. A net increase is defined as an increase in "Specified Amount" over the previous highest "Specified Amount." This definition may vary by product.
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Universal Life. Excess premium is the first-year premium paid in excess of the first-year annualized commissionable premium for a Universal Life policy. Renewal-year external dump-ins (rollovers) are considered renewal premium. Excess commission for the Passport UL product is not advanced. It is paid as earned when the Target commission advance has cleared.
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Universal Life. The net amount at risk is defined to be the death benefit minus the account value. The amount of reinsurance benefit at each policy duration is the net amount at risk at each duration minus the initial amount retained by the Company.
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Related to Universal Life

  • Group Term Life Insurance The School District will pay the full premium for each $1,000 of coverage for group term life insurance. The amount of life insurance provided will be $20,000, subject to the conditions of the carrier.

  • Destination CSU-Pueblo scholarship This articulation transfer agreement replaces all previous agreements between CCA and CSU-Pueblo in Bachelor of Science in Physics (Secondary Education Emphasis). This agreement will be reviewed annually and revised (if necessary) as mutually agreed.

  • Life The City shall pay one hundred percent (100%) of the monthly premium for a $50,000 life insurance policy with accidental death and dismemberment, for each member of the bargaining unit.

  • Optional Life Insurance The State shall make available optional term-life insurance to employees. The cost will be paid by the employee on a payroll deduction basis. The available coverage will be at least two (2) times the employee’s salary. No evidence of insurability will be required if an adequate number of employees participate. The State will explore smoker/non-smoker rates and spousal coverage.

  • Sick Leave Donation Program A Labor Management Committee will be established for the purpose of proposing rules and procedures for a new, program. The LMC will be to develop consistent, transparent and equitable proposals for processes across all departments within the City. The LMC shall also explore proposals to lower the minimum leave bank required to donate sick leave and permit donation of sick leave upon separation from the City. The LMC must consult with the Office of Civil Rights to ensure compliance with the City’s Race and Social Justice Initiative. Once the LMC has developed its list of proposals, the City and Coalition of City Unions agrees to reopen each contract on this subject.

  • Term Life Insurance The Employer will maintain and make available to full-time and part-time employees, the current term life insurance plan as set forth in the document "Summary of Health Benefits, Maryland State Employees."

  • Group Life Insurance The Hospital shall contribute one hundred percent (100%) toward the monthly premium of HOOGLIP or other equivalent group life insurance plan in effect for eligible full-time employees in the active employ of the Hospital on the eligibility conditions set out in the existing Agreements.

  • Supplemental Life Insurance In addition to the life insurance benefits provided by this agreement, employees may subscribe voluntarily and at their own expense for supplemental life insurance. Employees may subscribe for an amount not to exceed five hundred thousand dollars ($500,000), of which one hundred thousand ($100,000) is a guaranteed issue, provided the election is made within the required enrollment periods.

  • Cellular Phone Employer shall provide Employee with a cellular phone for his use in performing his responsibilities with Employer. In the alternative, Employer shall pay Employee’s cellular phone expense.

  • Leave Donation Program Employees may donate paid leave to a fellow employee who is otherwise eligible to accrue and use sick leave and is employed by the same Agency. The intent of the leave donation program is to allow employees to voluntarily provide assistance to their co-workers who are in critical need of leave due to the serious illness or injury of the employee or a member of the employee’s immediate family. The definition of immediate family as provided in rule 123:1-47-01 of the Administrative Code shall apply for the leave donation program.

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